by Bill McBride on 3/23/2016 12:01:00 AM
Wednesday, March 23, 2016
• Delinquency rate down 13 percent month-over-month; down nearly 16 percent year-over-yearAccording to Black Knight's First Look report for February, the percent of loans delinquent decreased 12.6% in February compared to January, and declined 15.9% year-over-year.
• Total non-current inventory falls below 3 million for the first time in over eight years
The percent of loans in the foreclosure process declined 0.6% in February and were down 24.6% over the last year.
Black Knight reported the U.S. mortgage delinquency rate (loans 30 or more days past due, but not in foreclosure) was 4.45% in February, down from 5.09% in January. This is the lowest delinquency rate since April 2007.
The percent of loans in the foreclosure process declined slightly in February to 1.30%.
The number of delinquent properties, but not in foreclosure, is down 419,000 properties year-over-year, and the number of properties in the foreclosure process is down 211,000 properties year-over-year.
Black Knight will release the complete mortgage monitor for February on April 4th.
|Black Knight: Percent Loans Delinquent and in Foreclosure Process|
|Number of properties:|
|Number of properties that are delinquent, but not in foreclosure:||2,252,000||2,575,000||2,671,000||2,994,000|
|Number of properties in foreclosure pre-sale inventory:||655,000||659,000||866,000||1,156,000|
Posted by Bill McBride on 3/23/2016 12:01:00 AM